Stock Market News for October 29, 2026

At a glance

On October 29, 2026, Intel completed a $23 billion public equity offering and announced plans to acquire Classiq; DoorDash agreed to acquire Instacart for an equity value of approximately $17 billion; ADT agreed to be acquired by Thrive Holdings for $10.00 per share; Reddit reported Q3 revenue of $895 million and net income of $283 million.

Earnings and guidance

Reddit (RDDT) reported third-quarter 2026 results revenue of $895 million, up 53% year over year, with net income of $283 million, diluted EPS of $1.40, adjusted EBITDA of $402 million, daily active uniques of 130.3 million and operating cash flow of $364 million.

Intel (INTC) reported third-quarter 2026 financial results revenue of $16.5 billion, diluted EPS of $0.60, Data Center and AI revenue of $7.3 billion, and said it completed a $23 billion public equity offering and announced plans to acquire Classiq.

MasTec (MTZ) reported third-quarter 2026 results and updated guidance revenue of $5.2 billion, adjusted diluted EPS of $2.96, and raised full-year revenue guidance to $18,300 million with GAAP diluted EPS of $5.69–$6.01.

Quanta Services (PWR) reported third-quarter 2026 results revenue of $12.01 billion, net income attributable to common stock of $694.9 million, diluted EPS of $4.55, and operating cash flow of $1.5 billion.

Sandisk (SNDK) reported fiscal first-quarter 2027 results revenue of $11.0 billion, GAAP net income of $8.1 billion, diluted EPS of $52.60, repurchased ~3.2 million shares for $5.0 billion, and announced an eight-for-one forward stock split effective November 19, 2026.

Howmet Aerospace (HWM) reported third-quarter 2026 results revenue of $2.703 billion, GAAP diluted EPS of $1.42, and raised full-year baseline forecasts to $10.3 billion revenue, $5.50 adjusted EPS and $2 billion free cash flow.

DexCom (DXCM) reported third-quarter 2026 financial results revenue of $1,344.5 million, GAAP operating income of $327.2 million, and raised its full-year revenue guidance midpoint to target $5.20–$5.25 billion.

Rivian Automotive (RIVN) released third-quarter 2026 financial results revenue of $2.155 billion, deliveries of 19,248 vehicles, gross profit of $176 million, and updated expectations to 67,000–70,000 deliveries for the year.

Coinbase Global (COIN) reported third-quarter 2026 results net income of $719 million, adjusted EBITDA of $333 million, and said prediction markets surpassed $200 million in annualized revenue.

Tenet Healthcare Corporation New (THC) reported third-quarter 2026 results net income available to common shareholders of $1.000 billion, diluted earnings of $12.41, and raised its 2026 financial outlook after adjusted EBITDA of $1.355 billion.

Deals and acquisitions

DoorDash (DASH) agreed to acquire Instacart in a definitive cash-and-stock agreement valuing Instacart's equity at approximately $17 billion, or $65.00 per share, payable in at least 75% cash and up to 25% DoorDash stock, with expected closing at the end of 2027 or in the first half of 2028.

ADT (ADT) agreed to be acquired by Thrive Holdings in an all-cash transaction paying stockholders $10.00 per share upon completion, valuing ADT at approximately $7.6 billion equity value and $15.3 billion enterprise value, with closing expected in the first quarter of 2027 subject to stockholder and U.S. antitrust approvals.

Symbotic (SYM) expanded its commercial agreement with Walmart to include an initial commitment of approximately $6 billion in spend across multiple years to bring automation to 25 U.S. regional distribution centers.

Financings and repurchases

First Solar (FSLR) announced third-quarter 2026 results and a share repurchase program reported net sales of $1.23 billion, net income of $571 million, cut 2026 sales and adjusted EBITDA outlooks, and authorized up to $500 million in share repurchases.

FTAI Aviation (FTAI) announced third-quarter results and an accelerated share repurchase reported net income attributable of $149.1 million and said it will enter a $500.0 million accelerated share repurchase while doubling its repurchase authorization to $1.0 billion.

PBF Energy (PBF) announced third-quarter results and a dividend reported net income attributable of $1,529.3 million and declared a quarterly dividend of $0.325 per share payable November 24, 2026.

Drug trials and biotech

Kymera Therapeutics (KYMR) reported positive Phase 1 results for oral IRF5 protein degrader KT-579 showing ≥90% median IRF5 degradation across multiple dose levels with biomarker suppression and safety comparable to placebo, and plans to start the KT-579 LUMORA Phase 1b lupus trial by early 2027.

Other notable news

EMCOR Group (EME) reported record third-quarter 2026 results revenue of $5.54 billion, net income of $399.9 million, and raised its full-year outlook with remaining performance obligations of $18.57 billion.